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ThriveToken (THRT)

Correlation

0.48

Influence

23.04%

Bitcoin and ThriveToken Correlation

Does ThriveToken depend on Bitcoin? Based on the correlation analysis, BTC and THRT have a strong positive relationship. The correlation coefficient of their values is 0.48, which was calculated based on the previous 100-days' price movements of both cryptocurrencies.

This coefficient may adjust from -1 to 1, where -1 is the strongest negative correlation, 0 is no correlation at all and 1 is the strongest positive correlation.

The negative coefficient tells that the prices of the currencies are going in the opposite trend while the positive coefficient points that the prices are moving in the same trend. For example, if Bitcoin and ThriveToken connection is positively strong, it means that when BTC is growing THRT will grow as well. The negative strong relation will tell that when BTC is rising THRT value will be in opposite decreasing.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over ThriveToken. If we take all the aspects affecting the price of THRT as 100%, then the share of BTC price among these factors will be 23.04%. The other part which is 76.96% covers all the other aspects, such as news, technological releases or regulations.